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DEE� OF TRUST 2 010 0 8 2 5 4
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<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shell promptly comply with all laws, ordinances, end regulations, now or
<br />hereefter in effect, of all governmentel euthprities applicable to the use or occupancy of the Prpperty, including withouf limitatian, the
<br />Americans With Disebilities Act. Trustor may contest in gdad faith any such law, ordinance, or regulation and withhold compliance
<br />during any prqceeding, including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as,
<br />''' in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequate aecurity
<br />ar a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unettendsd the Property. Trustor shall do all nther acts, in addition to
<br />those acts set forth apove in this section, which from the cheracter and use of the F'roperty are reasonably necessary to protect and
<br />pressrve the Praperty.
<br />TAXES AND LIENS. The following provisians relating to the texes end liens on the Property are part of this Deed af Trust:
<br />Peymant. Trustor shall pay when due (and in all events prior to delinquency) all taxes, apeciel taxes, assessments, oharges (including
<br />water end sewer►, fines and impositions levied egainst or on accaunt of the Property, and shall pay when due all cleims fpr wprk done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain Che Property free of aA liens h�ving prierhy
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxas and assessments not due and except as
<br />otherwise provided in this Deed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor shall within fifteen (15) days af#er the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficient to diacharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of e foreclosure or sale under the lien. In any contest, Trustor shall defend itself and I.ender and shall
<br />satisfy any adverse judgment before enforcemant egeinst the Property. Trustor shall neme Lender as an additianal obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidenca of Payment. Trustor shall upon dsmand furnish to Lendar satisfactory svidence of payment of #he tsxes or assessments and
<br />shall authorize the appropriate governmentel official to deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Proparty.
<br />Notica df Construction. 1'rustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, pr ather lien could be asserted nn
<br />eccount of the work, services, or materials. 7rustot will upon request of Lender furnish to Lender advance assurances satiafactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPEFt7Y bAMAGE INSURANCE. The following provisions relating to insuring the Property are e part of this Deed of Trust.
<br />Malntenance of Insurance. Trustar shall procure and maintsin policies of fire insurance with standard extended coverage
<br />endarsements on a fair value basis for the full insurable value covering all Impravements on the Real Property in an amount sutficient
<br />to avoid applicetipn of any coinsurance clause, and with e standard mortgagee clsuse in favor of Lender. Trustar shall also procure
<br />and maintain comprehensive general liability insurance in such coverage amqunts as Lender may request with Trustee and Lender
<br />being named as additional insureds in such liability insurance policies. Additional�y, 7rustor ahall maintain such other insurene'e;
<br />'' including but not limited to hazard, business interruption, and boiler insurance, es Lender may reasonably require. Policies shall be
<br />wrftten in form, amounts, coverages and basis ressonably acceptable to �.ender and issued by a company pr cnmpanies reasonably
<br />acceptable to Lender. Trustor, upan request of Lender, will deliver to Lender from time to time tha policies or certificates of in9uranCe
<br />__.. _:'in farm sstisfactory to Leader, including sti�u4atier�tk�a�-ceve�a�es wiN nat be sancelled or d'+►ni►tished without at-kses� ten {10F days
<br />prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will
<br />not b2 impaired in any wey by eny act, omission or default of Trus#or or any other person. Should #he Real Property be located in an
<br />area designated by the Director of the Federal Emergency Menagement Agency as a special flood hazard area, 7rustor agrees 'to
<br />- obtain and maintein Federal Flood Insurance, if eveilable, for the full unpaid principal balence of the loan and any prinr liana on the
<br />� property securing the loan, up to the maximum pplicy limits set under the National Flood Insurance Program, or as otharwise required
<br />by Lander, and to maintain such insuranca for the term of the loan.
<br />`"`Ap{�lieetion of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender mey make proof of loss
<br />i,f Trus#or fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
<br />election, receive and retain the proceeds of any insurance end spply the proceeds to the reduction of the Indebtedness, peyment of
<br />any lien affecting the Property, or the restoration and repair of the Property. If Landar elects to apply the proceads to restoration and
<br />repair, Trustor shall repair or replace the damsged or destroyed Improvemants in a manner satisfactnry to Lender. Lender shall, upon
<br />satisfactory proof oi such expenditure, pay or reimburse 7rustar from the proceeds for the reasaneble cost of repair or restoratipn if
<br />7rustor is not in default under this Deed of Trust. Any prpceeds which have not been disbursed within 180 days efter their receipt
<br />and which Lender has not committed to the repair pr restoration of the Property shell be used first to pay any amnunt owing to Lender
<br />under this Deed of Trust, then to pay accruad interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any procseds after payment in full of the Indebtedness, such proceeds ahall be paid to Trustor a9
<br />Trustor's interests may appear.
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<br />Trustor's Raport on Insurence. Upon request nf Lender, however not more then pnce a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurence showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replacement value af such property, and the manner of determining that value; and (5) the
<br />expiration dete of the policy. Trustor shall, upan request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Prnperty.
<br />LENDER'S EXPENOITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails Yo comply with any provisian of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when due any emounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender
<br />on 7rustor's behelf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to
<br />discharging or paying all taxes, liens, security Interests, encumbrancea and other claims, at any time levied or placed on the Property and
<br />paying all coets for insuring, maintaining and preserving the Property. All such expenditures Incurred o1 �f�ld by Lender for euah purposes
<br />will then bear interest at the rate charged under the Note from the date incurred or paid by �ender to the dete of repeym2ht by Truator. All
<br />such expenses will become a part af the Indebtedness and, at Lender's aption, will (A) be paysble on demand; (B) be edded to the
<br />balance of the Note end be apportioned among and be payeble wiYh any installment payments to become due during eithsr (1) the term of
<br />any appticebla inaurence policy; or 12) the remeining term of the Note; or (C) be trested as a balloon payment which will be due and
<br />payable a# the Note's maturity. 7he Deed af Trust elso will secure payment nf these amounts. Such right shall be in addition to all other
<br />rights and remedies to which Lender mey be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. 7he fallowing provisions relating to ownership pf the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) 7rustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Prnparty description or in any title insurance policy, title raport, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) 7rustor has the full right,
<br />power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of 1'itle. Subject to the exception in the psragraph a6ove, Trustor warrsnts and will forever defend the title to the Property
<br />sgainst the lawful claims of all persons. In the event eny action or proceeding is commenced that questions Trustor's title qr the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. 1'rustor may be the
<br />nominal party in such proceeding, but Lender shall be entitlad to participate in the proceeding and to be represented in the proceeding
<br />by counsel af Lander's own choice, and 7rustor will deliver, or cause to be delivered, to Lender such instruments as Lender msy
<br />request from time to time to permit such psrticipetion.
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